Publication of Sanctions Compliance Guidance for the Virtual Currency Industry and Updated Frequently Asked Questions

Release date
10/15/2021
Body

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing an industry-specific brochure, "Sanctions Compliance Guidance for the Virtual Currency Industry," as a resource to help members of the virtual currency industry navigate and comply with OFAC sanctions.  This brochure provides an overview of OFAC sanctions requirements and procedures, including licensing and enforcement processes, and highlights sanctions compliance best practices tailored for the virtual currency industry.  Publication of this brochure is in keeping with OFAC's commitment to engage with the virtual currency industry to promote an understanding of, and compliance with, sanctions requirements. In addition, OFAC has updated two associated Frequently Asked Questions (559 and 646).